Cast-On 80 stitches.
Join to knit in round.
Rows 1-9: *k1, p1, repeat from * to end of row.
Row 10: Kfb, k1, kfb, *k2, kfb, repeat from * to end of row. (108 stitches)
Row 11-16: *k6, p3, repeat from * to end of row
Row 17: *C6F, p3, repeat from * to end of row.
Repeat rows 11-17 two more times.
Row 18-20: *k6, p3, repeat from * to end of row.

Decreases:
Row 1: *k2, ssk, k2, p3, repeat from * to end of row.
Row 2: *k2, ssk, k1, p3, repeat from * to end of row.
Row 3: *k1, ssk, k1, p3, repeat from * to end of row.
Row 4: *k1, ssk, p3, repeat from * to end of row.
Row 5: *ssk, p3, repeat from * to end of row.
Row 6: *ssk, p2, repeat from * to end of row.
Row 7: *ssk, p1, repeat from * to end of row.
Row 8: *ssk, repeat from * to end of row.
Row 9: *ssk, repeat from * to end of row

Cut thread with enough length to thread through remaining 6 stitches on needle. Secure and weave in ends. Enjoy.

Hat Body:
Row 1: *k3, kfb, k2, kfb, p3, place stitch marker, repeat from * to end of row.Row 2-3: *k9, p3, repeat from * to end of row.
Row 4: *k9, p3, repeat from * to end of row.
Row 5: *C6F, k3, p3, repeat from * to end of row.
Row 6: *k9, p3, repeat from * to end of row.
Row 7: *k9, p3, repeat from * to end of row.
Row 8: *k9, p3, repeat from * to end of row.
Row 9: *k3, C6B, p3, repeat from * to end of row.
Row 10: *k9, p3, repeat from * to end of row.
Row 11: *k9, p3, repeat from * to end of row.
Repeat rows 4-11 three times.
Row 12: *k9, p3, repeat from * to end of row.
Leaving stitch markers in place, begin decreases.

Decreases:
Row 1: *ssk, k7, p3, repeat from * to end of row (99 stitches)
Row 2: *ssk, k6, p3, repeat from * to end of row (90 stitches
Row 3: *ssk, k5, p3, repeat from * to end of row (81 stitches)
Row 4: *ssk, k4, p3, repeat from * to end of row (72 stitches)
Row 5: *ssk, k3, p3, repeat from * to end of row (63 stitches)
Row 6: *ssk, k2, p3, repeat from * to end of row (54 stitches)
Row 7: *ssk, k1, p3, repeat from * to end of row (45 stitches)
Row 8: *ssk, p3, repeat from * to end of row (36 stitches)
Row 9: *ssk, p2, repeat from * to end of row (27 stitches)
Row 10: *ssk, p1, repeat from * to end of row (18 stitches)
Row 11: *ssk, repeat from * to end of row (9 stitches)
Row 12: *ssk, repeat from * until 1 stitch left, k1. (5 stitches)
Cut yarn, leaving enough of a tail end that it can be threaded through all the stitches on the needle, pulled tight and secured. Weave in ends. Enjoy.

Notes:
This pattern contains twisted cables (C5pF) worked over an odd number of stitches (5), that are superimposed onto an underlying k2, p1 rib pattern. There are cables with 3 crosses alternating with cables with 2 crosses, and the cable crosses are staggered so that in the cabled section, cable crosses are being made on either the 2-cross cables or the 3-cross cables on every right-sided row. Because of the way the cables are alternated, there needs to be an odd number of cables, so a pattern repeat is 12 stitches, or 2 cables, wide.

Abbreviations:
C5pF = slip 2 stitches off onto the cable needle and hold them in front of your work. Knit the next two stitches, purl the next stitch, then knit the 2 stitches on the cable needle.

Notes:
This pattern contains a twisted cable worked over an odd number of stitches (5). Usually, in such instances, the larger number of stitches would be crossed over the smaller (3 over 2), which has the effect of making the cable twists “puffier.” However, since that was not the effect I wanted, I wrote the pattern so that 2 stitches are crossed over 3. Purling the odd stitch helps ease the space those 2 stitches are required to cross in order to form the cable twist, and makes the cable twist less prominent. See below for explanation.

If you want a looser cowl, this pattern is worked in multiples of 14 stitches (a cable panel plus a ribbed panel). You can add a 5-stitch ribbed panel at one or both ends, to increase the overall length by as much as 10 stitches, or you can add a cable+rib panel combination to one end to increase the overall length by 14 stitches.